BC Assessment has gone through a restructuring of appraisal resources responsible for the assessment of:
Improved Property Class 4 - major industry – folios, commonly referred to as “MIP” properties; and
Improved Property Class 2 - utilities - folios that have dams, power plants or substations, commonly referred to as Electrical Power Group or “EPG” properties.
What has changed?
Historically, MIP and EPG properties were assessed by the local area offices throughout the province.
The new business model has moved the responsibility of the assessment of MIP and EPG properties from local area offices to one specialized provincial Major Industry & Power Assessment Team situated in three locations: the Lower Mainland, Nanaimo, and Prince George.
As of April 2014, assessments of MIP and EPG properties located anywhere in the province are the responsibility of the Major Industry & Power Assessment Team.
Why are these changes being implemented?
The key goals of provincial specialization are:
- Sustain long term expertise of a highly specialized property portfolio
- Maintain uniform assessments through consistent and coordinated application of MIP and EPG manuals, case law decisions, and exemptions and classification
- Achieve operational efficiencies
- Develop and foster relationships with Industry owners and tax agents
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Disclaimer: Where information presented is different from legislation, legislation shall prevail.